The Rome, Ga.-based freight broker’s purchase of Apex Freight Services will allow Scott Logistics to expand its market presence and contribute $20 million in additional annual revenues, according to a statement from the company.
Although activity increased from the first quarter, total deal volume and value in the transportation and logistics sector were still down 18 percent and 22 percent year-over-year, respectively, according to a new report from PricewaterhouseCoopers.
Echo posts strong second quarter Chicago-based Echo Global Logistics reported strong year-over-year increases in net income, revenues and truckload volumes during the second quarter of 2016.
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Terminal operators at the Ports of Los Angeles and Long Beach announced an increase to the Traffic Mitigation Fee, which is collected on cargo moving through terminals during peak hours.
Gerry Wang, chief executive officer of Seaspan, expressed how he believes the industry will gradually improve if scrapping remains high and new ship orders remain low.